Great question.
I would suggest that you do a tax estimator to see what you might be owing and make estimated taxes based on that estimator. Here are my favorites:
Remember that they do not save so they will time out.
IRS Tax estimator
Taxcaster
You can use these throughout the year to see if you are owing.
Here are my favorite Self Employment links:
Self employment tax
Self employment tax hub with calculator
Self Employment income and expenses
The Self employment tax hub with calculator link is nice to see how much you need to be withholding.
There is a spot that lets you avoid underpayment penalties. Here is how to find that form:
httpshttps://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/add-form-2210/L7qgI9Ie6_U...
This might help to reduce the amount of the penalty if you pay only one or two estimate tax payments per year.
Katie S
Katherine S 63
